Perspective Thera puts the pieces together for new radiopharmaceuticals | $CATX
In spite of recent advances, radiopharmaceuticals remain complex and tricky to manufacture. Radiopharmaceuticals are assembled via a series of hand-picked parts. Radioactive materials can be heavy or light. They can remain in the body for short or long periods. They can emit either alpha or beta particles, or waves of particles, to destroy the DNA of cancer cells without damaging healthy cells. Once all the parts are in place, manufacturing to scale is challenging. Fusion Pharmaceuticals, Inc. pushed its sale to AstraZeneca (NASDAQ;AZN) over the finish line by validating its manufacturing process of FPI-2265 three months prior to the bid.
Perspective Therapeutics, Inc. (NASDAQ:CATX) was formed, and is advancing, as a radiopharmaceutical company of hand-picked parts. Perspective was created in February 2022 through the merger of privately held Viewpoint Molecular Targeting and listed Isoray, Inc. Viewpoint owned several novel diagnostic imaging agents aimed at radiopharmaceuticals while an Isoray subsidiary was the sole producer of Cesium-131 brachytherapy seeds, a radioactive implant long used to treat cancer. Through the merger, Viewpoint gained a public listing for its radiopharmaceutical approach and Isoray, struggling with an outdated technology, salvaged an exit for investors.
In March 2024, Perspective acquired a manufacturing facility in New Jersey from Lanthus Holdings, Inc. (NASDAQ:LNTH) for $57.4 million; Perspective sold $87.4 million of common stock to institutional investors to fund the deal. Perspective previously received an initial equity investment from Lanthus, a major radiopharmaceutical manufacturer. Perspective plans to use the facility to manufacture 203Pb(lead)-labeled tumor-specific peptides to visualize and diagnose tumors, and 212Pb-labeled radiopharmaceuticals to treat tumors with targeted alpha therapies (TAT).
Key catalysts
Data from phase I/IIa trial of 212Pb-labeled VMT-α-NET in patients with somatostatin receptor type 2 (SSTR2)-positive neuroendocrine tumors (NETs)
Key catalyst dates
2H 2024
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